IMF projected a 9.1% contraction of Brazil’s GDP

As competitiveness worsens in Argentina, Brazil, Mexico and Colombia, the International Monetary Fund (IMF) has revised down its outlook for economic growth in Latin America’s top economies this year. The IMF now expects Brazil, the region’s top economy, to suffer a 9.1% contraction. In April, it had predicted a 5.3% decline.

Source: Latinvex